November 2022 new vehicle sales go up 6%, 642k cars sold so far

New vehicle sales in Malaysia saw a 6% growth in November 2022 compared to October with 64,404 units sold. As a refresher, October saw 61,002 new vehicles sold that month.

Of the 64,404 vehicles sold in November, 57,545 consisted of passenger vehicles while commercial vehicles accounted for the remaining 6,859 units. Sales in the eleventh month of 2022 also saw a nearly 7% growth as compared to the same month last year which saw 60,047 new vehicles sold.

According to the latest data published by the Malaysian Automotive Association (MAA), the year-to-date sales volume for November 2022 was also 45% higher than the similar corresponding period in 2021. A total of 642,306 vehicles were sold in the first 11 months of 2022 as compared to 443,636 units in 2021.

Also read: New vehicle sales drop 7.5% in November 2021, SST exemption extension one of the causes

This is due to car companies continuing to fulfil many bookings that were received prior to 30-June 2022.

In terms of production, the number of vehicles produced between January and November 2022 also shot up from 427,485 units in the same corresponding period in 2021 to 633,421 vehicles this year.

For the final month of the year, MAA has a positive outlook for the month. It stated that sales in December are expected to be higher than in November as car companies are rushing to fulfil many outstanding bookings while certain makes are also doing year-end promotions to attract buyers.